For the next five years, Google has set out roughly Ksh.110 billion to promote Africa’s digital revolution and support tech startups.
This initiative continues to push Google’s continuous support for Africa’s digital revolution and entrepreneurship.
“We’ve made huge strides together over the past decade, but there’s more work to do to make the internet accessible, affordable, and useful for every African.” Google and Alphabet CEO Sundar Pichai.
Google’s 1 Billion Dollars investment over the next 5 years is to support Africa’s digital transformation covering a number of initiatives including improved internet connectivity and investment in tech startups.
Support to Startups
According to Nitin Gajria, Google’s managing director for Africa, there has never been a greater demand for investment rounds in tech startups than during the COVID-19 pandemic.
“It is my firm belief that no one is better placed to solve Africa’s biggest problems than young African developers and startup founders. We look forward to deepening our partnership and support for Africa’s innovators and entrepreneurs.”
Google said it would invest Ksh.5 billion in businesses through the Africa Investment Fund and offer them access to Google personnel, networks, and technologies to help them build products for their communities. Google will invest in Black-led enterprises in Africa through a Black Founders Fund, which will provide monetary rewards and hands-on help.
The organization will also benefit small enterprises in Kenya, Ghana, Nigeria, and South Africa, with Ksh.1 billion set aside to pay them low-interest loans.
Grow with Google
Google announced its Grow with Google project in 2017, with the goal of training 10 million young Africans and small businesses in digital skills.
Google claims to have trained more than six million people in 25 African nations, with more than 60% of participants reporting increased business growth.
Google has also invested over 1.7 million shillings in more than 50 African organizations, allowing hundreds of millions of Africans to access the Internet for the first time using Android.
In addition, the company is developing global infrastructure to help offer quicker internet to more people and decrease connectivity prices across Africa.
Google’s partners in the initiative
Google is partnering with the non-profit Kiva to provide Sh1.1 billion in low-interest loans to small companies and entrepreneurs in Ghana, Kenya, Nigeria, and South Africa to help them weather the economic storm brought on by COVID-19.
With Sh4 billion, the corporation is increasing its commitment to organizations striving to improve life in Africa, with more partners reacting to difficulties they experience firsthand in their areas.
Google has announced a partnership with Safaricom, Kenya’s largest telecommunications company, to provide low-cost Android devices for first-time users.
Other carriers, including Airtel, MTN, Orange, and Vodacom, will participate in the scheme later.